Rick's Cabaret International, Inc. Upgraded To NASDAQ Global Market
HOUSTON-(August 13, 2007)-Rick's Cabaret International, Inc.
operator of upscale gentlemen's clubs, has received notification
that the NASDAQ
stock market has upgraded its listing
to the NASDAQ Global Market
beginning August 13,
2007. The company continues to trade under the ticker symbol "RICK
"This important milestone underscores the progress Rick's Cabaret
has achieved in the past few years," said Eric Langan
President and CEO of the company. "We believe that the broader
exposure of listing on the Global Market platform will enhance our
visibility to investors. Meeting the requirements for a NASDAQ Global
Market listing validates our growth and overall success in building
value for shareholders."
The NASDAQ Global Market consists of over 1,450 companies that have
met and continued to meet stringent financial and liquidity requirements
and agreed to meet specific corporate governance standards. Formerly
called The NASDAQ National Market, this market was renamed in 2006
to reflect the global leadership and international reach of this
market and the companies whose securities are listed there.
Since its IPO in October 1995 Rick's Cabaret had been listed on
the NASDAQ Small Cap market platform, recently renamed the NASDAQ
Rick’s Cabaret International, Inc. (NASDAQ: RICK) operates
upscale adult nightclubs serving primarily businessmen and professionals
that offer live adult entertainment, restaurant and bar operations.
The company owns and operates or licenses adult nightclubs in New
York City, New Orleans, Charlotte, Houston, Minneapolis and other
cities under the names "Rick's Cabaret," "XTC"
and "Club Onyx." No sexual contact is permitted at any
of these locations. Rick's Cabaret also owns the adult Internet
membership Web site, couplestouch.com,
and a network of online adult auction sites under the flagship URL
Cabaret common stock is traded on NASDAQ under the symbol RICK.
For further information contact [email protected].
This document contains forward-looking statements that involve a
number of risks and uncertainties that could cause the company's
actual results to differ materially from those indicated in this
document, including: the risks and uncertainties associated
with operating and managing an adult business; the business
climates in New York City and elsewhere; the success or lack thereof
in launching and building the company's businesses in New York City
and elsewhere; the Company's ability to identify and secure suitable
locations for new nightclubs on acceptable terms, open the anticipated
number of new nightclubs on time and within budget; achieve anticipated
rates of same-store sales; hire and train additional nightclub personnel
and integrate new nightclubs into its operations; unexpected increases
in costs of sales or employee, pre-opening or other expenses; the
economic conditions in the new markets into which the Company expands
and possible uncertainties in the customer base in these areas;
fluctuations in quarterly operating results; the impact of any negative
publicity or public attitudes; competitive pressure from other national
and regional nightclub chains; risks and uncertainties related to
the operational and financial results of our Web sites, conditions
relevant to real estate transactions, and numerous other factors
such as laws governing the operation of adult entertainment businesses,
competition and dependence on key personnel. Rick's has no obligation
to update or revise the forward-looking statements to reflect the
occurrence of future events or circumstances. For further information
go to www.ricks.com.